According to TMZ, the Miami native reportedly received a $345,000 advance from Warner Bros. Records for his self-titled debut album this year, including him also retaining 15 percent of his royalties. Pump's contract with the label apparently requires him to make five total albums, which must include 14 songs on each project.

The contract also reportedly reveals that the rapper could potentially receive up to $500,000 on the advance of his fifth album in the future.

Even though TMZ portrays the record deal in a positive light, the details of the signing between Pump and Warner Bros. are still a bit cloudy. The advance he received for Lil Pumpis money that the label seeks to recoup through his record sales, including the earnings of "Gucci Gang." Being that the track is doing increasingly well in the music community, it looks like the Pump could make a good amount of dough through his 15 percent royalties.

Pump will also earn a share of the money made off of his merchandise, but the percentage has not been disclosed.